Iran: Crude price pegged at dlrs 39.6 a barrel under next year's budget

Tehran, Jan 27, IRNA - Head of Majlis Joint Commission Reza Abdollahi said here Sunday that the budget bill for the next Iranian fiscal year of 1387 (to start on March 21) envisions the price of each barrel of crude at dlrs 39.6 next year.

Abdollahi said at Sunday meeting of the Joint Commission that the budget bill stipulates expenditures of rls 2,790,000 billion next year, a figure showing 20.8 percent growth compared to this year's figure.

Putting the country's general budget at rls 790,000 billion (up 15.6 percent compared to this year), Abdollahi said the bill puts next year budget of state-run companies and banks at rls 2,060,000 billion, showing 23.4 percent growth compared to this year.

He said that oil earnings will account for 57.8 percent, taxes for 25 percent and other sources for 17.2 percent of the country's revenues next year.

He added that development budget will be a little a bit more than rls 240,000 billion next year, showing 58.5 percent growth compared to this year's figure.

He noted that the country's current budget next year shows 5.4 percent growth, standing at rls 410,000 billion, compared to this year's.

The parliamentarian noted that under the bill, dlrs 17 billion will be channeled from the Oil Stabilization Fund next year.